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How Do Tracking Tools Help You Manage Projects Better?

It is challenging to handle projects manually these days. So we must comprehend why we require project tracking tools.

However, numerous tools are available, which need clarification: on how to pick the best tracking tool, because each tool comes with its restrictions and supports seamless functioning.

We will discuss “how tracking tools help to manage projects better and when you should consider using one” in this blog.


What Are Tracking Tools?

Tracking tools are automated solutions that assist business owners in monitoring resource utilization, project progress, budget, and time spent by employees. 

Tracking Tools Benefits Businesses With..

Tracking tools come in handy for many reasons.

For one, tracking tools aid in resource availability. It is essential to determine who will work on which project and how many resources managers require for each task.  


eRS resource allocation tool makes it easy for team members to view their schedules and indicates project managers to reassign the tasks based on the resource overload indicator. 


Once tasks are assigned, decision-makers can use the time-tracking module to monitor the time spent on each task. 

Another area in which the organization struggles is the budget. Like time-tracking, eRS Financial module monitors project spending and allows project managers to complete the work within a budget. 

We all agree that task management is much easier with the right tracking software. Organizations can use tracking tools to determine where they have over or under-utilized resources and can identify ongoing tasks that can get automated.

In short, firms can improve their performance. 

Key Features Of Tracking Tools

Here are the key features of the tracking tool

  • Project tracking

  • Resource allocation

  • Budget Tracking

  • Time tracking

 Project Tracking: Project tracking is the most important step.


Setting milestones is crucial for accomplishing large projects on time. Whether you finish the project early or not, you will succeed in completing it on time if you achieve each milestone. It is critical to monitor the progress of the projects. Workforce management tools allow project managers to track each individual’s status and the overall project.


Resource Allocation:  Business owners must allocate the right task to the right resource. Resource allocation tool is an efficient way of distributing work and utilizing resources. Workforce management tool aids in assigning work based on the employee’s workload and availability. 


Budget Tracking: A budget is crucial for project success because it reflects the team’s actual performance and estimates potential project risks in real-time. The financial module successfully manages the project costs within the planned budget.


Workforce management tools enable business owners to track expenses, issue invoices, pay employees, forecast budgets, and evaluate project profitability.


Time Tracking: Time tracking aids in project completion on time, but it also monitors that employees remain focused and on-task. Oh,  timesheets also prevent employees from working too hard and burning out.

 

Benefits of tracking tools

  • It’s all about timing! don’t miss it: The eRS Gantt Chart assists in accommodating real-time delays. Understanding existing schedules and mapping them to resource availability minimizes task completion delays.

  • Take care of the risks: eRS helps with ideation and is heavily relied upon during planning. It provides a framework for determining organizational costs, schedules, and working hours. It also aids in risk identification.

  • Keep your cost boxed: The cost baseline compares your estimated amount to your actual project expenses. Because these factors are interconnected and can easily cause a project’s cost to diverge, the eRS financial module works closely with schedule and scope baselines.

  • Communication is the key: A proper plan for automating cross-functional communication ensures that all stakeholders understand how to obtain relevant information. It is possible to make critical decisions on time and conduct all project activities smoothly with the help of project management tools.

  

Wrapping Up

Managing large-scale projects is hard to imagine without software because the right platform can help you finish the job on time and within budget.

Tracking tools allow teams to focus on their primary tasks rather than wasting time on traditional work. Managers can use the data to streamline the team’s workflows and maintain peak productivity over time.

However, eRS is your best bet if you’re looking for a user-friendly and effective workforce management tool for your team. Wish to know why? Book a 14-day free trial to learn more about tracking software and its functions.

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